CIBC battery

Grants

Grants are funds provided by one party, often a government agency, foundation, or corporation, to an individual or organization for a specific purpose, typically to support projects or initiatives that align with the grantor’s mission or goals. Unlike loans, grants do not require repayment, making them a critical source of funding for various activities, including research, education, community development, and non-profit projects. Grants can be awarded based on competitive applications or predetermined criteria, and they often come with conditions regarding their use, reporting requirements, and performance assessments. They play a vital role in fostering innovation, supporting public welfare, and enabling organizations to undertake important work without the burden of debt.